NEWS
Technically Speaking Blog
Darin Newsom DTN Senior Analyst
Sat Aug 29, 2015 08:10 AM CDT

Live Cattle: The October contract closed $0.125 higher at $143.975. Despite last week's spike rally technical indicators show the secondary (intermediate-term) trend is still down. Oct cattle posted a new low of $139.65, a test of major (long-term) support between $141.95 and $137.40 before rallying to a higher weekly close. However, both weekly and monthly stochastics remain bearish indicating the contract could retest this support before establish a secondary uptrend and bringing the ongoing major downtrend to an end.

Feeder Cattle: The October contract closed $0.55 lower at $198.925 last week. The secondary (intermediate-term) trend remains down. However, last ...

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